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Malcolm Turnbull's son said to start hedge fund in Singapore

Malcolm Turnbull. Like his father, Alex Turnbull has been an executive with Goldman Sachs.
Photo: Alex Ellinghausen

Alex Turnbull, son of Federal Communications Minister Malcolm Turnbull, is planning a Singapore-based hedge fund, said people with knowledge of the matter.

Mr Turnbull, who has been an executive director of Goldman Sachs Group's special situations group, will be the chief investment officer of Keshik Capital, said the people who asked not to be identified. The fund will be focused on Asia with flexibility to invest globally. It may start as early as January and will invest in equity and credit, including convertible bonds, they said.

Keshik will be at least the third hedge-fund startup that is tapping Asian opportunities in recent years and involves a former member of the Goldman Sachs unit. The special situations group, known as SSG, invests in distressed debt and companies. It's part of Goldman Sachs's investing and lending operations, which generated $US4.3 billion ($4.6 billion) of pretax earnings last year, the most of the New York-based bank's four business segments.

Mr Turnbull, who is based in Singapore, worked for SSG for four years until earlier this year, according to his LinkedIn profile. SSG's investments include holdings in Japan's largest golf-course operator Accordia Golf and pizza-chain Sbarro.

The Sydney native studied at Harvard University and had a stint at Mount Kellett Capital Management, the investment firm founded by former SSG executives Mark McGoldrick and Jason Maynard. His other former employers include Deutsche Bank and Fortress Investment Group, according to his profile.

Malcolm Turnbull was co-chairman of Goldman Sachs's Australian unit between 1997 and 2001.

Jason Brown, a former global head of SSG, set up his own Hong Kong-based fund company Arkkan Capital Management last year, according to the city's Securities and Futures Commission.